CIMC Vehicles establishes a trailer leasing and sharing company

The 2017 China Commercial Vehicles Show (CCVS), hosted by China Council of the Promotion of International Trade Automotive Sub-council, opened at Wuhan International Expo Center on November 4. CCVS is the only commercial vehicle show at the national level in China, and it is also the largest one in Asia. CIMC Vehicles announced that it has formally started the semitrailer operating leasing business by establishing Jiangsu Guachebang Lease Co., Ltd (Guachebang).

CIMC Vehicles has ranked first in the global semitrailer industry for 3 years in a row, making it a classic example of globalization for China’s special-purpose vehicle manufacturers. With a start-up capital of 200 million yuan, Guachebang will specialize in the leasing of different transportation semitrailers and cargo containers to e-commerce, trunk line and logistics companies and provide services covering the entire industrial link including vehicle registration, insurance, and after-sales services, and have business offices in the first-tier cities across the country. In particular, it invites North American trailer experts as its consultants who will make business development plans for the new company.

Guachebang provides at least three years of lease of brand new 30 to 48 ft skeleton semitrailers of different specifications and continuous lease of cargo containers, and it serves both big companies and small and medium-sized enterprises and fleets.

Li Guiping, Managing Director of CIMC Vehicles, pointed out that China’s traditional manufacturing business is facing a large number of challenges, and the automobile industry is undergoing unprecedented changes: the control of oversize and overload transport, the tightened environmental protection supervision, the elimination of outdated manufacturing equipment and backward technologies, the shortage of laborers, the limitations to emissions, the R&D progress in driverless vehicles, and the intelligent management. Today, new sciences and technologies are recreating our business value and reshaping our business models.

The establishment of Guachebang should not be simply considered as CIMC Vehicles’ extension of its manufacturing business to service sectors. It is CIMC Vehicles’ efforts to perform its corporate social responsibility and to implement its operating principle to promote the healthy and sustainable development of the industry. By pioneering the share trailer business model, encouraging increased participation of well-known companies and stimulating the reasonable reallocation and utilization of industrial resources, CIMC Vehicles will help the logistics industry reduces costs and improve efficiency.